Cavco Industries (NASDAQ:CVCO) Given Neutral Rating at Wedbush

Wedbush reiterated their neutral rating on shares of Cavco Industries (NASDAQ:CVCO) in a research note released on Monday,RTT News reports. Wedbush currently has a $550.00 target price on the construction company’s stock, up from their prior target price of $480.00.

Several other brokerages also recently issued reports on CVCO. Craig Hallum increased their price target on Cavco Industries from $422.00 to $495.00 and gave the stock a “buy” rating in a report on Monday, November 4th. StockNews.com downgraded shares of Cavco Industries from a “buy” rating to a “hold” rating in a research report on Friday, December 20th.

Cavco Industries Stock Performance

Cavco Industries stock opened at $519.31 on Monday. Cavco Industries has a 52 week low of $331.08 and a 52 week high of $544.08. The business’s fifty day moving average is $473.70 and its two-hundred day moving average is $439.00. The firm has a market cap of $4.21 billion, a P/E ratio of 25.56 and a beta of 1.35.

Cavco Industries (NASDAQ:CVCO) last issued its earnings results on Thursday, January 30th. The construction company reported $6.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.89 by $2.01. Cavco Industries had a net margin of 8.75% and a return on equity of 16.25%. On average, equities research analysts predict that Cavco Industries will post 18 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Julia Sze sold 125 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $458.68, for a total transaction of $57,335.00. Following the sale, the director now directly owns 2,861 shares in the company, valued at approximately $1,312,283.48. The trade was a 4.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Susan L. Blount sold 750 shares of the business’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $471.70, for a total transaction of $353,775.00. Following the completion of the sale, the director now directly owns 2,836 shares in the company, valued at approximately $1,337,741.20. This represents a 20.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,850 shares of company stock worth $889,417 in the last three months. 1.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cavco Industries

Large investors have recently added to or reduced their stakes in the business. Marshall Wace LLP bought a new position in shares of Cavco Industries during the 2nd quarter worth about $692,000. Squarepoint Ops LLC bought a new position in Cavco Industries in the second quarter worth approximately $594,000. The Manufacturers Life Insurance Company grew its stake in Cavco Industries by 1.9% in the second quarter. The Manufacturers Life Insurance Company now owns 4,602 shares of the construction company’s stock valued at $1,593,000 after acquiring an additional 87 shares during the period. Algert Global LLC bought a new stake in shares of Cavco Industries during the second quarter valued at approximately $262,000. Finally, Creative Planning raised its position in shares of Cavco Industries by 116.8% during the second quarter. Creative Planning now owns 1,136 shares of the construction company’s stock worth $393,000 after purchasing an additional 612 shares during the period. Institutional investors and hedge funds own 95.56% of the company’s stock.

About Cavco Industries

Cavco Industries, Inc designs, produces, and retails factory-built homes primarily in the United States. It operates in two segments, Factory-Built Housing and Financial Services. The company markets its factory-built homes under the Cavco, Fleetwood, Palm Harbor, Nationwide, Fairmont, Friendship, Chariot Eagle, Destiny, Commodore, Colony, Pennwest, R-Anell, Manorwood, MidCountry, and Solitaire brands.